Reservoir Capital Corp.
TSX VENTURE : REO

Reservoir Capital Corp.

June 08, 2007 15:37 ET

Reservoir to Increase Private Placement by 200,000 Units

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 8, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Reservoir Capital Corp. ("Reservoir" or the "Company") (TSX VENTURE:REO) announces that pursuant to its news release dated May 22, 2007, the Company is increasing the number of units offered in its non-brokered private placement financing from 2,500,0000 units to 2,700,000 units at $0.80 per unit. Each unit shall consist of one common share (a "Share") and one-half, non-transferable, common share purchase warrant (each whole warrant being a "Warrant"). Each Warrant will entitle the holder thereof to acquire an additional Share at a price of $1.10 per share for a period of two years from the closing of the private placement. The private placement is open to residents of British Columbia, Alberta, Ontario and any other qualifying international jurisdictions.

A finder's fee of 8 percent in warrants will be paid on the financing. One finder's fee warrant will entitle the holder to purchase one common share of the company at a price of $0.80 per share for a period of 24 months from the closing of the private placement.

There can be no assurance that the private placement will be completed as proposed or at all and it is subject to all applicable regulatory approvals. The proceeds of the offering will be used by Reservoir to advance its Brestovac project in Serbia and for general working capital and corporate purposes.

About Reservoir

Reservoir is a natural resource company, currently exploring for gold and base metals on six exploration properties in Serbia and actively seeking new business opportunities through its in-country team of geologists and business development specialists. Reservoir's common shares trade on the TSX Venture Exchange under the symbol "REO".

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Reservoir Capital Corp.
    Miljana Vidovic
    President
    (604) 662-8448
    or
    Reservoir Capital Corp.
    Miles Thompson
    Chairman
    (604) 662-8448
    or
    Reservoir Capital Corp.
    Kim Casswell
    Corporate Secretary
    (604) 662-8448
    (604) 688-1157 (FAX)
    Website: www.reservoircapitalcorp.com